Leerink Partnrs Has Positive Outlook of MIRM FY2024 Earnings

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) – Leerink Partnrs boosted their FY2024 earnings per share (EPS) estimates for Mirum Pharmaceuticals in a report released on Tuesday, November 12th. Leerink Partnrs analyst M. Foroohar now anticipates that the company will earn ($1.63) per share for the year, up from their previous forecast of ($1.93). The consensus estimate for Mirum Pharmaceuticals’ current full-year earnings is ($1.81) per share. Leerink Partnrs also issued estimates for Mirum Pharmaceuticals’ Q4 2024 earnings at ($0.28) EPS and FY2025 earnings at ($0.99) EPS.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The business had revenue of $90.38 million during the quarter, compared to analysts’ expectations of $81.99 million. During the same period in the prior year, the business earned ($0.57) EPS. Mirum Pharmaceuticals’s revenue for the quarter was up 89.4% compared to the same quarter last year.

A number of other equities analysts have also recently issued reports on the company. Robert W. Baird increased their target price on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday. Leerink Partners increased their price objective on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Evercore ISI lifted their target price on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Citigroup upped their price target on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, HC Wainwright reissued a “buy” rating and issued a $66.00 price objective on shares of Mirum Pharmaceuticals in a research report on Wednesday. Ten investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $57.73.

Mirum Pharmaceuticals Trading Up 5.3 %

Shares of MIRM stock opened at $46.26 on Friday. Mirum Pharmaceuticals has a 12-month low of $23.14 and a 12-month high of $48.89. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.09. The firm has a fifty day moving average of $39.96 and a 200-day moving average of $35.79.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC increased its position in Mirum Pharmaceuticals by 34.2% during the first quarter. Janus Henderson Group PLC now owns 2,767,210 shares of the company’s stock worth $69,470,000 after buying an additional 704,659 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Mirum Pharmaceuticals by 37.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock valued at $40,131,000 after purchasing an additional 432,824 shares during the last quarter. Clearbridge Investments LLC boosted its position in Mirum Pharmaceuticals by 165.5% during the second quarter. Clearbridge Investments LLC now owns 699,933 shares of the company’s stock worth $23,931,000 after purchasing an additional 436,349 shares during the period. William Blair Investment Management LLC increased its holdings in shares of Mirum Pharmaceuticals by 8.1% in the second quarter. William Blair Investment Management LLC now owns 677,939 shares of the company’s stock valued at $23,179,000 after purchasing an additional 50,667 shares during the last quarter. Finally, Candriam S.C.A. acquired a new stake in shares of Mirum Pharmaceuticals during the 2nd quarter worth about $17,384,000.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.